ViaBTC Helps Speed Up the Confirmation Process of Bitcoin Transactions

Have you ever encountered this situation: urgently needing to carry out a Bitcoin transaction, only to find that the transaction remains pending for a long time?

This situation is not only annoying but can also affect your original trading plan and liquidity. In fact, this is not due to a Bitcoin network failure or server downtime, but because the current Bitcoin network is too active. New transactions are constantly coming in, making the average miner’s fee you set no longer attractive to miners. Miners prefer to prioritize transactions that offer higher fees and include them in new blocks.

While the funds have yet to arrive at the intended address, your initiated transaction hasn’t been lost – it’s merely lingering temporarily in the Mempool. If the Bitcoin network remains congested, the transaction could take a day or more to be confirmed. Under extreme circumstances, this transaction may be cleared out of the Mempool, which is equivalent to a transaction failure, and the funds will be returned to your wallet.

Currently, the congestion problem faced by the Bitcoin network is not optimistic. According to Mempool data, there are over 280,000 Bitcoin transactions that have not been confirmed, with the lowest miner’s fee reaching 24.2 sat/vB. This is also the minimum miner’s fee standard set by various nodes at present. Any transaction lower than 24.2 sat/vB will be cleared from the Mempool to ensure that its size gradually falls back to the preset threshold (300 MB).

Note: Satoshis is the minimum unit of Bitcoin, and 1 BTC = 100 million satoshis.

The data, current as of January 22nd, comes from mempool.space

Bitcoin transaction congestion usually coincides with bull markets in the cryptocurrency sector. However, the widespread creation of NFTs via the BRC-20 protocol has made congestion a constant in the Bitcoin network, not just during bull markets. In light of this, how can users expedite Bitcoin transaction confirmations to ensure their efficient completion?

The BTC transaction accelerator offers an exceptionally convenient and effective solution.

What is a BTC Transaction Accelerator?

A BTC transaction accelerator is a service that helps speed up the confirmation process of Bitcoin transactions. It can prioritize the user’s transactions that are stuck in the Mem

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Author: Advertorial

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